The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Park National Corp OH

Park National Corp OH cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,818 shares of the financial services provider’s stock after selling 1,713 shares during the quarter. Park National Corp OH’s holdings in The PNC Financial Services Group were worth $5,943,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Y.D. More Investments Ltd acquired a new stake in The PNC Financial Services Group during the 2nd quarter valued at $33,000. Valley Wealth Managers Inc. lifted its position in shares of The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 200 shares in the last quarter. Quarry LP boosted its stake in shares of The PNC Financial Services Group by 141.7% during the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 170 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in The PNC Financial Services Group during the 3rd quarter worth about $51,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in The PNC Financial Services Group by 231.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 220 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares of the company’s stock, valued at $170,299.80. This represents a 48.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $192.15, for a total value of $238,650.30. Following the sale, the chief executive officer now owns 527,555 shares of the company’s stock, valued at $101,369,693.25. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,272 shares of company stock worth $6,155,103. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Trading Down 0.4 %

NYSE PNC opened at $194.90 on Wednesday. The firm has a market capitalization of $77.33 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 2.11 and a beta of 1.16. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. The company’s 50 day moving average price is $201.22 and its 200 day moving average price is $185.16.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the firm posted $3.60 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 54.10%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PNC shares. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Piper Sandler raised their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Citigroup boosted their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Compass Point increased their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Evercore ISI lifted their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $203.29.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.